this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

how this isn't a MAJOR question at every press conference is beyond me. Granted, there is some legit news and issues in the middle east but there is room for more than one major story at a time.

This administration should be taken to task for such irresponsibility.....but they won't. They won't even be bothered by it.

Just remember that when you try to buy groceries, a hamburger, pay rent, or fill up with gas.

Government spending on complete crap is causing the inflation. Enjoy watching the value of the dollar deteriorate.

Inflation is a tax.

This country is going to be unrecognizable in a couple of decades. It will either implode from spending so much or it will fracture into multiple countries.

I just can't see a way where the Democrats or the RINOs start to care about fiscal responsibility which would give us a chance at saving this country. Even if it hurts for a while paying off our debt, at least we have the chance to remain whole if the voters and our politicians cared about fiscal resopnsibility regardless of the other political differences.

Tea Party said:

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This country is going to be unrecognizable in a couple of decades. It will either implode from spending so much or it will fracture into multiple countries.

I just can't see a way where the Democrats or the RINOs start to care about fiscal responsibility which would give us a chance at saving this country. Even if it hurts for a while paying off our debt, at least we have the chance to remain whole if the voters and our politicians cared about fiscal resopnsibility regardless of the other political differences.

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Why should they care? Half of congress has one foot in the grave and will never see the destruction they caused.

And nobody can identify what to cut that will actually make a dent to the deficit.

Not a Bot said:

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Inflation is a tax.

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Pretty soon a trillion is gonna be what a cheeseburger costs. Deficit? No problem!!!

Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

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wake me up when we get to quadrillion in debt

Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

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This country is being looted by our politicians. Sadly almost half the people in this country fully support this as long as they are getting a cut.

Dan Scott said:

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And nobody can identify what to cut that will actually make a dent to the deficit.

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identifying it is easy...the challenge is the easy position the left and the media have of calling such cuts "draconian", "far right wing", "favors of the rich", or "stealing from the elderly"

Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

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So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

boboguitar said:

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Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

---

So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

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3 years after the pandemic. All businesses open, unlike 2020. No excuse for it and no comparison.

Your president is a Marxist idiot.

Logic is hard for libs, I know.

Logos Stick said:

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boboguitar said:

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Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

---

So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

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3 years after the pandemic. All businesses open, unlike 2020. No excuse for it and no comparison.

Your president is a Marxist idiot.

Logic is hard for libs, I know.

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Liberals try to act like spending isn't an issue because sometimes spending is necessary in time of crisis. No wonder most of this country lives paycheck to paycheck.

If you always spend like it's a crisis, you don't have money when there's an actual crisis.

GDP will be announced today.

Part of it is the $2 trillion in deficit spending.

The libs will be all over this board bragging about Bidenomics today.

It's easy to increase GDP when you simply borrow and spend trillions, but it's completely irresponsible and not sustainable.

The interest on our debt is now $700 billion, the same as our defense budget.

We are screwed.

Logos Stick said:

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boboguitar said:

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Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

---

So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

---

3 years after the pandemic. All businesses open, unlike 2020. No excuse for it and no comparison.

Your president is a Marxist idiot.

Logic is hard for libs, I know.

---

Biden has been a total disaster on the deficit but Trump was bad too. It went up every year under his watch with what Trump called the best economy ever. What has Trump proposed to balance the budget if he gets back into office? I won't hold my breath.

In Trump's first three years, his deficits totaled about $2.3 trillion.

In Biden's first three years, it's twice that at $5.7

Stop derailing. If you want to talk about Trump's deficits, start a thread.

Kansas Kid said:

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Logos Stick said:

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boboguitar said:

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Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

---

So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

---

3 years after the pandemic. All businesses open, unlike 2020. No excuse for it and no comparison.

Your president is a Marxist idiot.

Logic is hard for libs, I know.

---

Biden has been a total disaster on the deficit but Trump was bad too. It went up every year under his watch with what Trump called the best economy ever. What has Trump proposed to balance the budget if he gets back into office? I won't hold my breath.

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It was bad under Trump. Worse under Obama and catastrophic under Biden.

At least a good portion of Trumps he tried to get spent on crumbling infrastructure and to fight COVID before we understood it for what it was.

Instead of aid to corrupt regimes, proxy wars, buying votes, and kickback projects.

It's a difficult distinction to make I know.

That being said most people on here agree that reigning in spending should be a priority. There aren't many candidates and electable ones that will do that and reign congress in.

Logos Stick said:

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In Trump's first three years, his deficits totaled about $2.3 trillion.

In Biden's first three years, it's twice that at $5.7

Stop derailing. If you want to talk about Trump's deficits, start a thread.

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You just can't handle anything that says Trump did something bad. This isn't a detail, it is pointing out that we have had horrible leadership in the deficit for a long time.

Again, what is Trump proposing to solve this deficit issue? We know Biden and the Dems certainly won't but unfortunately neithe will the Republicans because they won't do anything to materially change the entitlement programs or do anything other than window dressing on discretionary spending.

Stop derailing.

I don't support Trump.

This thread is about the massive deficits being run by Biden and the GDP announcement today. GDP is expected to come in hot and the reason is deficit spending.

I hope staff will enforce the rules fairly here.

Ags4DaWin said:

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Kansas Kid said:

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Logos Stick said:

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boboguitar said:

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Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

---

So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

---

3 years after the pandemic. All businesses open, unlike 2020. No excuse for it and no comparison.

Your president is a Marxist idiot.

Logic is hard for libs, I know.

---

Biden has been a total disaster on the deficit but Trump was bad too. It went up every year under his watch with what Trump called the best economy ever. What has Trump proposed to balance the budget if he gets back into office? I won't hold my breath.

---

It was bad under Trump. Worse under Obama and catastrophic under Biden.

At least a good portion of Trumps he tried to get spent on crumbling infrastructure and to fight COVID before we understood it for what it was.

Instead of aid to corrupt regimes, proxy wars, buying votes, and kickback projects.

It's a difficult distinction to make I know.

That being said most people on here agree that reigning in spending should be a priority. There aren't many candidates and electable ones that will do that and reign congress in.

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I give Trump a pass on Covid but the deficit was on pace to essentially double under his watch before Covid. Trump campaigned on infrastructure and proposed multiple infrastructure bills but what ones did he get through?

boboguitar said:

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Logos Stick said:

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this past fiscal year. It would have been over $2 trillion but SCOTUS killed Biden's student loan scam.

Remember that this Thursday when GDP is announced.

---

So it's on pace for the same amount Trump racked up as well.

Weirdly, I looked for your thread complaining about Trump running up the deficit and couldn't find any.

---

You don't understand deficits.

Does the deficit reflect the war in Afghanistan and Iraq iirc the war during W's was funded in a way outside of the budget that trillion or so in spending showed up in the debt but not in the deficit

Nothing will be done on this because it can't be fixed without completely destroying and resetting the country.

Effectively, you would have to start completely over. Liabilities are >$100T. There is no coming back from that.

So, all you can do is ride the wave into the hellscape shore that is in front of all of us. You either hope you exit before the wave breaks or you want to be around to forge a new country when this one ends.

YouBet said:

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Nothing will be done on this because it can't be fixed without completely destroying and resetting the country.

Effectively, you would have to start completely over. Liabilities are >$100T. There is no coming back from that.

So, all you can do is ride the wave into the hellscape shore that is in front of all of us. You either hope you exit before the wave breaks or you want to be around to forge a new country when this one ends.

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To prove your point, this graphic shows you could take out all government spending other than social security, Medicare/Medicaid, interest expense and national defense and even then not balance the budget.
The even more scary part is wait until the economy goes into full recession and receipts drop and expenses sky rocket (before Congress and the President do there inevitable stimulus package to desperately try to stay in power)

Aggie95 said:

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Dan Scott said:

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And nobody can identify what to cut that will actually make a dent to the deficit.

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identifying it is easy...the challenge is the easy position the left and the media have of calling such cuts "draconian", "far right wing", "favors of the rich", or "stealing from the elderly"

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Hell most of the rich are liberals!!!!!

And that is just cash flow and doesn't address the existing Balance sheet...which has numbers people literally can't comprehend they are so high.

At this point, our balance sheet is sort of like quantum physics. People can't really digest or process the concept so they just glaze over and move on.

Politicians know there is nothing to be done about it so they just keep on truckin' with spending in the here and now so they can benefit from it while in this mortal realm.

Republicans already announced that Medicare, SS, and Medicaid will never be touched so the conversation is over. There is nothing to be done about it at this point. And, again, even if you wanted to start cutting those items back to try and balance annual spending you will never resolve your balance sheet without complete reset.

Ride the wave.

Does OP have the inside scoop on GDP numbers?

YouBet said:

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And that is just cash flow and doesn't address the existing Balance sheet...which has numbers people literally can't comprehend they are so high.

At this point, our balance sheet is sort of like quantum physics. People can't really digest or process the concept so they just glaze over and move on.

Politicians know there is nothing to be done about it so they just keep on truckin' with spending in the here and now so they can benefit from it while in this mortal realm.

Republicans already announced that Medicare, SS, and Medicaid will never be touched so the conversation is over. There is nothing to be done about it at this point. And, again, even if you wanted to start cutting those items back to try and balance annual spending you will never resolve your balance sheet without complete reset.

Ride the wave.

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Only the government can get away with not accruing the liabilities for pensions and post retirement liabilities. You are correct that is would scare the crap out of people if they saw the real numbers which is why if you don't attack entitlement programs aggressively, you will never balance the budget. Please don't tell me there is a trust fund for social security. That is an accounting figment of people's imagination. That money was long ago spent by the government.

I figured the rules would not be applied equally. Thread hijacking is ok by some it seems.

Logos Stick said:

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I figured the rules would not be applied equally. Thread hijacking is ok by some it seems.

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You wanted a discuss about the deficit. Go look at the thread title.

Dan Scott said:

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And nobody can identify what to cut that will actually make a dent to the deficit.

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I can

I did. It's about the deficit this past fiscal year and the GDP this year.

Learn to comprehend.

Logos Stick said:

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I did. It's about the deficit this past fiscal year and the GDP this year.

Learn to comprehend.

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And all people including me are pointing out is this isn't a one year issue caused strictly by Biden policies (although he has certainly made it worse) and it is going to get a lot worse as the liabilities come home to roost. How is that off topic?

Burying our head in the sand and thinking we owe it ourselves is not a solution.